City-by-city price comps
Los Angeles

Give this city an Oscar — for affordability. That’s happened as unemployment has topped 10 percent and construction levels have dwindled. John Burns Real Estate Consulting reports a four-year supply of lots and an eight-month supply of homes. East of Los Angeles, Riverside/San Bernardino is among the 10 markets where Local Market Monitor expects the worst performance in home price this year, and it’s home to the third-highest number of foreclosures in the United States last year.

Median price end of 2008: $354,300
Median price end of 2007: $516,600
Percent change: -31.4%
Projected change through Q3 2009: -32.1%
Affordability rating: 1.5
Foreclosures in 2008:
(1 for every 35 households)
Foreclosures in 2007:
(1 for every 74 households)
Change in foreclosures: 113.5%
Expected to hit bottom: Q3 2010
Percent drop needed to reach bottom: -53%
Current rate comparison
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Price trends
Q1 2008 national median price: $196,100
Q2 2008 national median price: $206,400
Q3 2008 national median price: $200,400
Q4 2008 national median price: $180,100
Q1 2008 local median price: $459,400
Q2 2008 local median price: $418,900
Q3 2008 local median price: $390,600
Q4 2008 local median price: $354,300

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